Dubai-headquartered fintech YAP – a neobank driving digital banking in the Middle East, Africa, and South Asia – has selected Euronet Pakistan as their technology partner to launch and operate as an EMI in Pakistan.
YAP was founded in the UAE in 2018. Since then the company has expanded to Saudi Arabia, Ghana, and Pakistan. YAP Pakistan, a subsidiary of YAP, has a vision to become the leading digital banking platform in Pakistan and make banking an effortless experience for every Pakistani citizen.
Under this arrangement, YAP Pakistan will utilize Euronet’s hosted card management system, e-commerce platform, and payment scheme gateways for virtual and physical cards and digital customer onboarding, card lifecycle management, and transaction processing.
The entire solution will also allow YAP Pakistan to benefit from Euronet’s diversified global payments experience, innovative technology stack, strong risk management, and global information security benchmarks.
Euronet has a PCI compliant hosted infrastructure in Pakistan and is well equipped to offer the best blend of technology components, innovative product set and operational readiness for fintechs and digital banks which can help them innovate, scale, and fast track their implementation and time to market, with guaranteed service levels and strong risk management.
Speaking at the occasion, Kashif Gaya, Chief Executive Officer of Euronet Pakistan, said, “We are excited to be selected as the technology processor by YAP and play a key role in their efforts to become the leading digital platform in Pakistan.”
“Fintech revolution is disrupting the market and this collaboration will help us foster innovation and growth in the local payments ecosystem and further accelerate the growth of digital payments in Pakistan,” he added.
Meheryab Niazi, Chief Executive Officer of YAP Pakistan, said, “We are thrilled to form this strategic partnership with Euronet. This collaboration has been a very seamless process and we are excited to revolutionize the digital banking sector with our new partners.”
